VMS REPORTS DRILLING HAS COMMENCED AT ITS SUPER
ZONE PROPERTIES, NEAR SNOW LAKE, MANITOBA
February 18, 2010
Vancouver, B.C., February 18,
2010. VMS Ventures Inc. (TSX-V: VMS) (the “Company”) is pleased to report that
drilling of newly identified targets on its 100% owned, Super Zone properties,
is now underway. Drilling is anticipated to continue into March with 7 distinct
targets being tested (see diagram linked here:
http://vmsventures.com/pdfs/Drill_Plan_20100217_letter_r1.pdf).
Drill roads were completed
ahead of schedule, which allowed drilling to start this past Saturday.
The first hole, RN-10-04, has been completed to a
depth of 310 m, and the core is currently being evaluated and sampled. The
second hole, RN-10-05, targeting an airborne geophysical survey (VTEM) anomaly,
has been started, with an anticipated hole length of 500 m. These holes are
testing targets in the Magoo Lake area, located approximately 1.5 km northwest
of the Discovery Zone. Five additional holes ranging in depth between 325 m and
700 m are planned and will target VTEM, DeepEM surface survey and Borehole Pulse
EM geophysical survey anomalies. Total drilling anticipated in this program is
estimated to be 3,000 m.
Drill Target Areas
Tower Zone
Drilling at the Tower Zone will
target anomalies adjacent to mineralized zones within favourable geological
settings intersected in the December, 2009 program. Hole RN-10-10 will target a
large conductive modeled plate near the recently completed drilling on the Tower
Zone, and is planned to be 700 m in length. Company geologists have recognized
the potential extension of the Discovery Zone rhyolite in this area. This target
will be drilled later in the program, as it can be drilled from ground that is
accessible all year round.
Northeast Tower Zone
Deep penetrating ground
geophysical surveys have identified new conductive targets northeast and along
strike of the Tower Zone over a strike length of approximately 1 km. These are
untested anomalies and deeper than any previously drilled in the northeast Tower
area. Three holes, each testing a new anomaly, will be drilled. Anomalies have
been modeled below 300 m from surface. Hole RN-10-09 will test the deepest
target in the area and has a planned length of 700 m.
Tower Zone drill holes RN-10-07
and RN-10-08 will test geophysical conductors located in the vicinity of an
historical drill hole which reported multiple intervals of disseminated,
stringer and near solid to solid sulphide, with anomalous copper, zinc and
silver values in altered volcanic rock. Reprocessed historical geophysical
survey data, including bore hole survey data, has been merged with VMS VTEM
airborne survey data and more recent ground deep EM survey results.
These three drill targets,
located on mining claim P6805E, are spatially associated with the Company's
recent surface pulse electromagnetic survey that outlined several highly
conductive plates directly associated with, or flanking, a magnetic response.
Far East Zone
A VTEM anomaly with a
coincident magnetic high defined on mining claim P5643E will also be drilled. It
is located approximately 2 km east-northeast of the Phase 1 Tower Zone drilling
area. This target has a lateral extent of over 700 m and based on modeling of
electromagnetic data is suggestive of stacked conductive zones. Historical
drilling results in the area have reported strongly altered volcanic rock and
sulphide mineralization with anomalous copper and zinc. The geological setting
of these conductors is interpreted to be very favorable for hosting base metal
massive sulphide-type deposits of the Flin Flon-Snow Lake belt.
Magoo Lake Zone
Drilling on mining claim P1019F
will target two separate VTEM anomalies near Magoo Lake. Historical work
completed by Noranda Exploration in this region outlined highly anomalous copper
and zinc values in a highly chlorite-altered volcanic host rock. This geological
setting is also favorable for the formation of base metal massive sulphide
mineralization and two holes are planned to test the targets.
Vice President Exploration and
Technical Services Mark Fedikow states: “The drill program now underway is the
second of several planned programs for 2010. The Company expects to greatly
accelerate its exploration drilling activities in the Snow Lake belt where it
holds a vast track of prospective ground. Most of the Company's properties in
the camp are now ready for drill testing following three years of executing
various new technology surveys and compiling and analyzing data, including
historical work.”
All technical information in
this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified
Person for the Company and Vice President of Exploration and Technical Services,
VMS Ventures Inc.
VMS Ventures Inc. currently has
a profile on Corebox.net which is updated as soon as assay results are released.
The link to visit our Corebox profile is:
http://www.corebox.net/properties/reed_lake/.
Investors are invited to visit
the VMS Ventures IR Hub at http://www.agoracom.com/IR/VMSVentures
where they can post questions and receive answers or review questions and
answers already posted by other investors. Alternatively, investors are able to
e-mail all questions and correspondence to
VMS@agoracom.com where they can also request to be added to the investor
e-mail list to receive all future press releases and updates in real time.
VMS Ventures Inc. is focused
primarily on acquiring, exploring and developing copper-zinc properties in the
Flin Flon-Snow Lake VMS Belt. The Company also holds the largest land package
considered prospective for nickel-copper mineralization at Lynn Lake, which is
to date Canada’s third largest nickel producing camp. The Company’s project
portfolio consists of the Snow Lake VMS project, the Nickel Belt project and the
South Bay nickel-copper-cobalt PGE property. All VMS Ventures Inc. properties
are located in the mining friendly province of Manitoba, Canada.
ON BEHALF OF THE BOARD OF
DIRECTORS
John Roozendaal B.Sc.
President & Director
For further information contact:
|
Keith Patey,
Director of Communications
Telephone: (604) 986-2020
Toll Free: 1-866-816-0118 |
Dale Paruk
Coal Harbor Communications
Telephone: (604) 662-4505
Toll Free: 1-877-345-3399 |
The TSX Venture exchange does not accept responsibility for the
adequacy or
accuracy of this release.
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